While it is a huge benefit that businesses can now conduct smooth online transactions, there will still be innumerable individuals with dishonest intentions. To combat those situations, organizations will need identity verification software to confirm user identities and foster trust online and offline, prevent identity fraud, and comply with privacy and anti-fraud rules.
Many departments within an organization might use the software to validate identities. For example, the HR team may use it to verify a prospective employee, while legal may use it before responding to client requests for sensitive personal data.
Whether it's employee or customer identity verification software, keep in mind the process can work in various ways, including photo-based document verification, such as a driver's license; biometric data, such as real-time selfies; and comparison against public records. All those are included in our top 5 best global identity verification services.
What Is Identity Verification Software?
Identity verification software is intended to assist businesses in determining who their users, customers, or clients are. The internet has become so accessible that people can easily construct fake identities online. With an online identity verification service, businesses can authenticate that the people they will transact with are who they claim to be. At the same time, it can help when considering legalities because companies must ensure privacy and anti-fraud compliance.
What Features to Look for in Identity Verification Software?
You may believe the only thing that makes identity verification software worthwhile is its accuracy. However, there are various features to consider.
First, it must include a digital footprint analysis in which each person who visits your site leaves with a particular quantity of unique data. You may then further classify them to some degree when augmenting that data. Second, there should be a selfie video verification and biometric identification features to identify distinctive traits that verify you are not working with a fraudulent individual.
Best Identity Verification Software
Consider how our top 5 identity verification software companies can assist and verify that online users are who they claim to be.
#1 Trulioo
Trulioo is a prominent global identity verification service that helps companies and consumers transact safely and securely online. The identity verification platform uses a single API interface that supports clients worldwide in delivering real-time verification of 5 billion people and 330 million corporate entities.
Organizations rely on the Trulioo digital identity verification platform to help them meet business and regulatory needs by automating due diligence and fraud protection.
Key Features
Identity Verification: The Trulioo platform provides international reach with identity verification coverage in more than 195 countries. The platform helps companies minimize risk while maximizing match rates with its proprietary TruMatch, which applies artificial intelligence and machine learning to clarify unclear matches.
ID Document Verification: Trulioo enables companies to capture, analyze and authenticate more than 4,200 types of identity documents from around the world. The platform's broad network of identity verification services includes UtilityID, which connects to more than 2,200 utilities around the world to enable quick proof of address during onboarding.
Business Verification: Trulioo enables Know Your Business compliance in seconds with access to registers around the world. Using flexible service tiering, Trulioo helps companies verify essential information about potential business customers, gain insight through Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, and complete due diligence by screening for ultimate beneficial ownership data, corporate filings and incorporation documents.
AML Watchlist Screening: Companies can tap into more than 20,000 AML watchlists worldwide through the Trulioo platform to ensure the integrity of their user base. Continuous monitoring ensures the company will be alerted if a user's status changes.
One of the core offerings of the Trulioo identity verification platform is its flexible KYC approach. It provides the freedom to create an identity verification process that meets an organization's specific business risk requirements regardless of industry, use case, or stage of the client journey. It adjusts to requirements based on industry, geography, and transaction size. Businesses can choose the verification rules that assist them in achieving compliance and onboarding more customers while decreasing manual verification.
Trulioo leverages innovative technologies that help organizations accurately verify identification documents and identification data to reduce risk and ensure user authentication. TruMatch, for example, employs natural language processing and deep learning to correct input differences and maximize matching. The identification information may also be compared to worldwide watchlists and sanctions lists.
Trulioo identity verification provides an enhanced, speedy and secure onboarding experience.
Benefits
It's an identity verification service that offers a complete range of native services on a single platform.
All the services are consolidated under the Trulioo platform, which can serve any regulatory compliance requirement or use case anywhere in the world through a single contract and a single API.
Trulioo has more than 10 years of verification industry expertise and can precisely design each customer's onboarding strategy for the maximum volume of users while maintaining the optimal mix of speed and friction.
It offers powerful worldwide coverage with a platform that includes a pool of solutions, optimum data sources and significant experience to enable clients to extend their businesses to any place in the world effectively and efficiently.
For more information or to book a demo, visit Trulioo.com.
#2 SEON
SEON provides identity verification software solutions that combine end-to-end anti-fraud protection with proprietary social and digital signal intelligence. Its granular data and adjustable criteria are mainly based on examining IP addresses, email and phone numbers, device fingerprints, reverse social and digital platform lookups, and utilizing machine learning for risk grading.
All data elements are integrated into risk rules, which risk managers may customize. It is, however, employed for more than just fraud prevention. Many businesses utilize SEON to credit-check their users using alternative data, discover high-value clients, and filter out fake accounts before official KYC checks. The crucial point is that SEON's technologies enable you to verify user identities through dependable digital footprinting while also learning more about who your users are. These are done through flawless assessments that do not hold down a customer's trip.
SEON searches 50+ social networks for user information, the most of any fraud prevention or user identification service. It leverages machine learning to detect trends and run risk rules on your historical data and existing user base to screen out fraudulent and synthetic IDs. While some ID verification technologies just authenticate an identity, a fraud detection solution such as SEON's is required to uncover trends between similar accounts. This can aid in the elimination of whole fraud rings as well as botnets, for example.
Key Features and Benefits
Reverse social media lookup in 50+ social networks
Flags identified fake IDs and profiles
Invisible screening to ensure customers won't feel hassled
Prevents fraud and can discover high-value prospects
#3 Berbix
Berbix can automate 100% of your transactions while also verifying your customer's identity, allowing you to spend less time analyzing and more time expanding. In contrast to other services, you may choose which transactions to approve, reject, or examine depending on triggers such as duplicate IDs and expiration dates. Users do not have to wait for the results of their identity verification because of Berbix's rapid response time.
Its real-time coaching guides end-users through the process, maintaining high-quality photographs and guaranteeing all required data are submitted. It also uses data derived from both the human and machine-readable components of a user's ID to assess the authenticity of an ID. Then, for added security and assurance, it collects a selfie with liveness checks and compares the image to the ID.
You may also use a drag-and-drop interface to deploy Berbix throughout your product or customer locations. Use markers such as age and expiration date to validate users the way you want. Or, somewhere in your client lifecycle, compare a new selfie to an ID previously obtained to re-verify returning consumers.
Key Features and Benefits
Quick response time for customers verifying their identities
Real-time guides to assist customers throughout the verification process
Selfie scans and a secured database for future comparisons
Tools for different documents subjected to verification
Global coverage for fake ID assessments
#4 Onfido
With face biometric verification, Onfido protects your company from stolen IDs and impersonation fraud. Biometric authentication offers another degree of security against stolen IDs and impersonation threats. For that, it uses AI-powered verification that does not just detect fraud but also maintains conversion rates. It has been taught to recognize attack vectors such as modified photographs, screen uploads, printed images, and masks.
In Onfido Studio, you may configure biometric verification and layer with other signals and trustworthy data sources using this identity verification software. Use verifications that are appropriate for your requirements to navigate legislation and risk. Customers arriving through web or mobile are guided through the capture process with real-time responses to maximize conversion.
Customers may complete checks on their mobile device before being sent back to their PC to finalize sign-up using a cross-device workflow. When a consumer snaps a selfie as a verification phase, they will receive real-time feedback. The brief video selfie also aids in the identification of legitimate individuals by asking them to turn their heads and speak a series of three digits to ensure they're alive and present, as well as running the same passive evaluation.
Key Features and Benefits
Enhanced way to process identity verification
Global identity verification software for worldwide operations
Smart capture feature to ease a customer's journey
Video and photo biometric assessment for improved verifications
#5 MemberCheck
Since its inception in 2008, MemberCheck has sought to assist companies in meeting their compliance duties. Their solution's ability to provide online ID verification is a significant selling point. Biometric screening employing face recognition and liveness identification, as well as 2FA verification through SMS, are part of the verification system. The procedure is simple to integrate using RESTful APIs, and you can do all of the normal AML checks you'd expect, such as PEP and sanctions checks.
MemberCheck will check identities against the proprietary database of 14 years of unfavorable media. To authenticate consumers, the corporation uses a technology called FaceMatch. However, unlike most of the other identity verification tools on the list, it can only examine documents and does not provide a user profile.
Using a smart due diligence process and filters, you can cut down the time you spend going through erroneous matches. Its simple interface and scan results section allow you to obtain client information and generate due diligence selections. You could also document these due diligence conclusions, access risk monitoring, and remarks against all matches. Based on the judgments, a whitelist is developed to eliminate erroneous matches from forthcoming scans.
Key Features and Benefits
Fosters effortless AML risk and compliance solution
Adverse media checks with PEP and sanctioning checks
Live ID and document verification
One of the most trusted by large companies in congested industries
A rising number of businesses do identity verification in some form or another. The reasons include getting to know clients better, complying with laws, and assuring a profitable commercial transaction. This is possible using Trulioo, SEON, Berbix, Onfido, and MemberCheck solutions. With features beyond detecting and removing fraudulent users, our top 5 best identity verification software makes your company ready to cater to legitimate consumers while gaining meaningful insights and results.
